Wealth Opportunities in Commercial Real Estate: Management, Financing, and Marketing of Investment Properties -- Contents -- List of Abbreviations -- Introduction -- Chapter 1: An Overview of the Problem, a Solution, and a Game Plan -- The Problem -- The Solution -- Four Key Elements in the Solution -- Concerns about the Solution -- Acquiring the Skill Set to End the Cycle -- A Game Plan to Achieve the Solution -- This Book Is about Center B Properties -- Chapter 2: The Basics -- Gross Income: The Starting Point -- Vacancy and Collection Loss: Gross Income Reducers -- Operating Expenses and Net Operating Income -- Fair Market Value and Capitalization Rate: What's It Worth? -- Gross Rent Multiplier -- Value per Square Foot versus Reproduction Cost per Square Foot -- Inverse Relationship between Cap Rate and FMV -- Initial Determination of Value -- Leveraged Return and Return on Equity -- Cash Flow before Taxes (CFBT) -- Reserves/Impound Accounts -- Taxes and Insurance Impounds -- Cap X, TIs, and Leasing Commissions -- Devil in the Details: Over Simplified Analysis -- Chapter 3: Detailed Financial Analysis -- Gross Income -- Vacancy and Collection Loss -- Operating Expenses -- Four Basic Types of Leases -- Nonrecoverable Expenses -- Time-Frame Assumptions -- Static versus Active Analysis -- Compounding -- Rent Roll -- Argus Ten-Year Discounted Cash Flow Model -- Analysis Reflecting 100 Percent Occupancy -- Reversion -- Disposition Costs -- The Time Value of Money: Present Value and Discounted Cash Flow -- Net Present Value (NPV) -- Internal Rate of Return (IRR) -- Conclusions from Argus Analysis and the Hypothetical Facts -- Analysis Reflecting a Large Vacancy after Purchase -- Analysis Reflecting a Large Vacancy with a Tenant in Tow -- Chapter 4: Lease Analysis -- The Importance of Basic Lease Provisions.

Twelve Key Economic Ingredients in a Lease -- Frequently Negotiated Lease Provisions -- Chapter 5: Real Estate Financing -- Sixty to Eighty Percent of the Game -- Types of Financing -- What Is the Right Answer to Debt Structuring? -- Seven Key Factors to Consider in a Real Estate Loan -- Loan Underwriting -- Cash-on-Cash Return -- The Mortgage Loan Application -- The Pitfalls of Mortgage Lending -- Negotiable Points of a Loan -- Chapter 6: Real Estate Taxation -- Income Taxation -- Real Property Taxation -- Taxation in the Event of a Refinance -- Taxation in the Event of a Sale -- Installment Sale -- Section 1031 Exchange -- Chapter 7: Acquisitions and Dispositions -- Focus on Specific Property Types in Specific Geographic Locations -- Establish Buying Criteria -- Acquisition Philosophy -- Governmental Impact -- Initial Screening -- The Purchase and Sale Agreement -- Building a Team -- Due Diligence -- Dispositions -- Chapter 8: Case Studies -- Problem Number 1 -- Problem Number 2 -- Problem Number 3 -- Problem Number 4 -- Problem Number 5 -- Problem Number 6 -- Problem Number 7 -- Chapter 9: Development or Rehabilitation (Build to a 12 Percent Yield) -- The 10 Phases of a Construction or Rehab Project -- Assessing a Construction Project -- Developer as Conductor -- Does the Project Hit Your Minimum Yield? -- Argus Developer -- Feasibility or Market Study -- The Composition of a Feasibility Study -- Residual Land Value -- Preleasing -- Equity and Financing -- Mechanics' Liens -- Liability under the Construction Loan -- Design and Construction Drawings -- Governmental Approvals -- Covenants, Conditions, and Restrictions (CC&Rs) -- Ground Lease Restrictions -- Construction of Improvements in a Ground-Up Development -- Inspections -- Insurance -- Decisions, Decisions, Decisions -- Communication, Communication, Communication -- Graphic Time Line.

Project Operating Costs -- Lender's Disbursement Form -- Change Orders -- Rehabilitation Project -- Construction of Improvements in a Rehab Project: Decisions, Decisions, Decisions -- Rehab Project: Communication, Communication, Communication -- Summary -- Chapter 10: Marketing, Leasing, and Management -- Definition of Marketing, Leasing, and Management -- Marketing -- Leasing -- Strategy -- Management -- Management as a Business -- Conclusion -- Chapter 11: Partnership Structuring and Deal Restructuring -- Partnership Structuring -- Securities Issues -- Fifteen Key Structuring Issues -- Debt Restructuring -- Borrower's Proposed Terms -- Lender's Counterproposal -- Chapter 12: Keeping the Money -- Planning -- Fractional Interests -- Estate Planning Checklist -- Acknowledgments -- About the Website -- About the Author -- Index.